PARSIPPANY — Global sweets maker Ferrero Group, with North American headquarters in Parsippany, has announced plans to acquire cereal giant WK Kellogg in a $3.1 billion deal.
Ferrero Group is located at 7 Campus Drive.
Ferrero will pay $23 per share in cash, a 40% premium, with the transaction expected to close in the second half of 2025. The acquisition includes iconic breakfast brands such as Frosted Flakes, Special K, Froot Loops, and Raisin Bran. WK Kellogg’s Michigan headquarters will remain its North American cereal base.
Founded in Italy, Ferrero’s U.S. expansion has been led from Parsippany, with the company growing to over 14,000 employees across North America. Its well-known brands include Nutella, Ferrero Rocher, Kinder, Keebler, Butterfinger, and Tic Tac.
The Parsippany office spans approximately 135,000 square feet, occupying the entire building. Ferrero moved into this location in 2019 as part of its North American expansion.
“This deal brings together two companies with strong legacies and loyal consumers,” said Executive Chairman Giovanni Ferrero.
WK Kellogg, spun off as an independent company in 2023, will become a wholly owned subsidiary of Ferrero and delist from the New York Stock Exchange.
